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2Q FY2017

From JAN to MAR 2017

Financial ResultsJanuary ～March 2017

Koji Nakamura, Vice President and Group CFO

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Copyright © 2017 BEENOS Inc. All rights reserved

3

【Quarterly Consolidated GMV】

(Unit: million JPY)

Increase for the 2nd consecutive quarter as well as year on year

Retailing and Licensing

Value Cycle

Cross Border

QoQ+4.2%

*1 The amounts represent the total of the merchandise of the Group companies distributed through the internet.

The GMV is the total amount of sales of businesses recording merchandise prices as sales; and merchandise, shipping charges, and consumption tax of

businesses recording only commissions as sales.


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【Progress of the GMV in the Cross Border Business】

To Japan

From Japan

FX Rate (USD/JPY)Average Rate for

each Quarter

GMV

Depreciation of yen continues, increase in From Japan business

(Unit: million JPY)


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【Quarterly Consolidated Net Sales】

(Unit: million JPY)

* The figure for the Incubation Business includes a decline of 4 million yen in sales due to exchange losses during FY2016 2Q.

E-Commerce Business records highest quarterly salesIncubation Business had no sales of operational investments


Value Cycle

Cross Border

Incubation

QoQ+1.6%


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【Quarterly Gross Profit Ratio and SG&A】

SG&A ratio decreased in 2Q due to the reduced expenses in advertising(Unit: million JPY)

* Bonuses are included in other fixed cost, not labor costs.


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Breakdown of 2Q FY2017 SG&A

(Unit: million JPY)

2,457

2,345

Value Cycle Business suppressed advertising expenses

Total SG&A 2Q FY2017

Total SG&A 1Q FY2017

Labor Advertising and Sales

Promotion

Other Fixed Costs

Variable Costs


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【Quarterly Operating Profit by Business Segment】

E-Commerce Business recorded its highest quarterly profitNo sales made in the Incubation Business

(Unit: million JPY)

Eコマース

Incubation

Adjustments

QoQ+252.6%

* The adjustment includes the income and expenses of group companies that have not been distributed to subsidiary companies.

The income of BEENOS Inc. mainly comes from fees collected from subsidiaries.

The expenses of BEENOS Inc. are mainly incurred for the management of subsidiaries.


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【Quarterly Operating Profit in the E-Commerce Business】

Value Cycle Business has 9.1% increase from 2Q FY2016 and records highest quarterly profitFrom Japan supplements To Japan in the Cross Border Business to maintain profit levels


Value Cycle

Cross Border

(Unit: million JPY)

QoQ+111.0%


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【Cross Border Net Sales and Take Rate(From Japan)】

(Unit: million JPY)

Continued depreciation of yen caused GMV and Net Sales increaseWas not able to match last year’s GMV mark, but increased take rateled to record high in net sales

GMV

Take Rate（Net Sales÷GMV）

Net Sales


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【Cross Border Net Sales and Take Rate(To Japan)】

GMV and Net Sales decrease due to continued depreciation of yen

* The GMV is the total of each month’s GMV converted at its average rate, while net sales is converted by the cumulated average for the year (to coincide with accounting standards).

(Unit: million JPY)

GMV

Take Rate（Net Sales÷GMV）

Net Sales


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Quarterly Consolidated Profit & Loss Statement

2Q/FY2017（JAN-MAR）

1Q/FY2017（OCT-DEC）

QonQ

5,049 4,970 +1.6%

2,656 2,545 +4.3%

Gross Profit Ratio 52.6% 51.2% +1.4p

2,345 2,457 △ 4.6%

SG＆A Ratio 46.5% 49.4% △ 3.0p

310 88 +252.6%

Operating Profit Ratio 6.2% 1.8% +4.4p

68 9 +657.8%

3 20 △ 82.9%

376 76 +390.1%

　Ordinary Profit Ratio 7.5% 1.5% +5.9p

376 76 +390.1%

141 162 △ 12.9%

85 3 +2173.8%

193 △89 ―

Net profit attributable toowners of parent Ratio

3.8% ― ―

Profit attributable to non-controlling interests

Net profit attributable toowners of parent

Non-Operating Revenue

Non-Operating Expense

Ordinary Profit

Income before Taxes, etc.

Total Income Taxes, etc.

Unit:million yen

Sales

Gross Profit

SG＆A

Operating Profit


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Quarterly Consolidated Balance Sheet

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・Acquisitions： +146 Mil.・Appraised Loss： △31 Mil.・FX Fluctuation： △76 Mil.

Displaying only major subjects

Unit:Million yen2Q/FY2017

March 2017

1Q/FY2017

December 2016QonQ

Current Asset 11,906 12,057 △151 Cash and deposite 6,255 5,722 533 Account Receivable 737 1,107 △369 Operational Investment Securities 2,190 2,152 38 Products 1,052 1,236 △183 Fixed Assets 1,575 1,504 71 Tangible Assets 251 221 30 Intangible Assets 256 257 △1 Investment etc. 1,067 1,025 41 Current Liabilities 4,793 5,167 △373 Account Payables 524 557 △33 Short-term Loan 949 975 △25 Fixed Liabilities 271 269 2 Net Asset 8,416 8,125 290 Total Asset 13,481 13,561 △80

2Q Business Sector Review2

Shota Naoi, President and Group CEO


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etc.

Cooperating with

BEENOS Group’s Vision

Cross Border

③Expandthe world’s trading market

Incubation

etc.eBay

①Boostthe domestic trading market


Value Cycle ②Connectwith the world’s trading market

People

Goods

Information

People

GoodsInformation

Users (Buyers)

Trade

etc.

Cooperating with

Japan The World


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◆Cross Border E-Commerce to China exceeds 1 Trillion JPYCross Border E-Commerce from Japan to China increased 30.3% from 2016 to 1.03 Trillion JPY. Japan to the US increased 14.4% to 615 Billion JPY.

◆Cross Border E-Commerce from Japan to China and the US is expected to reach 2.97 Trillion JPY by 2020, 1.8 times the amount in 2016.

【Data Released by the Ministry of Economy, Trade and Industry】“Market Research on E-Commerce” released 24 April 2017

Market Environment of Cross Border E-Commerce

▼Amount of Japanese products sold to China ▼Amount of Japanese products sold to USA

1.03 Tril. JPY 615 Bil. JPY

1.90 Tril. JPY1.06 Tril. JPY


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Global Shopping

This Year’s Focus （Cross Border Business）

①Increasing the number of domestic partners→Increasing the number of sites listed with Buyee

②Strengthening domestic and international PR→ Coordinating with international retailers including brick and mortar shops→ Proactively coordinating with foreign media

①Providing accurate product information to users→Independently developing recommendation and personalization features

③Increasing trade→Increasing and fortifying cooperating partners

②Conducting effective promotions for domestic users→Constructing a mechanism that will detect cross border trends and signs

Overseas Forwarding and

Proxy Purchasing

.com


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Exporting Business（Overseas Forwarding and Proxy Purchasing）tenso and Buyee

1,550+ Collaborated Websites

※As of March 2017

Over 1.16 million Users

Ship to 84 countries and regions

Steady increase of foreign users and domestic collaborated websites

Numbers for Buyee and tenso

Current Status


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Increasing number of domestic partners

Compatible EC Sites

a browsing tool where users can directly place the items they are searching for into their Buyee Cart

「Add to Buyee」

December 2016

Click!


35 → 60March 2016


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◆Proactively implemented promotionsGMV increase from 1Q

+12.7％

◆Increase cost efficiency by dividing warehouseIncreasing warehouses including the Kansai region. Also acts as a BCP in case of any unforeseen events or disastersSuccessfully decreased cost per package by 13.7% compared to 2Q FY2016

Created infrastructure that will secure stable income

etc.


Add to Buyee Commission Fee Waiver Coupon EMS Shipping up to 50% Off Promotion


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Fortify Cooperation in Promotions for Foreign Users

◆Cooperated with local businesses in 2Q

Taiwan: Major Credit Card CompanyHong Kong: Major Bank

◆Schedule beyond 3Q

Cooperation with foreign mallsCommerce cooperation with external media

Continue to create banners on Japanese EC sites and take SEO measures

Banners only seen when accessed from foreign countries



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②Streamlining and systemizing operations→Re-constructing the back-end framework

③Securing promising contents to strengthendistribution

①Strengthening domestic distribution networks→Strengthen the framework and increase personnel in distribution

①Create a unique product lineup using our supplier network→Develop original products, buy products not yet available in Japan to become the only place to offer them

②Create a new measure using our 17 years experience in E-Commerce→Actively institute promotions for new users→Release a new system to increase user experience

Producing and Licensing

Product Development for Online Shopping

This Year’s Focus （Retailing and Licensing Business）


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Proactively roll out stores for licensed products

Producing and Licensing Business monosense

Pop-up Shop in a variety store in Fukuoka, Japan for Master Lincensed ECONECO

French illustrator, Lillidoll, opened a shop during an event in a department store in Osaka, Japan


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Securing promising contents to strengthen distribution

Producing and Licensing Business monosense

Bath Pearls

Aiming to become a chic gift item brand under the new concept: Giftable Fragrances and Designs

Will focus on renewing popular products and creating a new line in 3Q

Made SWATi inc. a monosense subsidiary（Announced 18 January）

Flavor Juice Confetti Candles

Products and the new Brand Logo

Fragrant Sachet


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①Purchase

②Sell

③BusinessImprovement

・Increase sales channels

・Enhancing the assessment database

・Increased outsourcing

Apparel Reuse

This Year’s Focus （Value Cycle Business）

・Continue creating TV ads

・Improve service on the app

・Propel buyback alliances


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Value Cycle Business

Continuing to focus on buying second tier brandsIncreased 23% compared to 2Q FY2016

Please see Defactostandard’s IR releases for more details

395 378

473 464

556

463

1Q 2Q 3Q 4Q 1Q 2Q

(Unit: 1,000)

【Buyback Items】

FY2016 FY2017

“Yahoo! Auction Overall AnnualBest Store Grand Prix” for 8th consecutive year

YoY

＋23%

Added new sales channels

Opened store on “Wowma!” (operated by KDDI Commerce Forward Corp.) in March 2017


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Turkish online payment service “iyzipay” (operated by iyzico) procures 15 million USD in its series C round of funding (Announced 11 April 2017)

Incubation Business

iyzico (Turkey) procures funds

Investors: Amadeus Capital Partners, Vostok Emerging Finance, existing investors including IFC, etc.

BEENOS invested in June 2013 and holds a 1 – 5% share

◆The Banking Regulation and Supervision Agency of Turkey has given the highest security ranking to iyzipay

◆Offers a wide variety of opitions regarding payments (sales analysis, prevention of misuse, etc.) while suppressing initialcosts for businesses implementing the service

◆Over 10,000 E-Commerce businesses and 200,000 sellers onmarketplaces are registered

About iyzipay

Summary


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第2四半期のまとめ

E-CommerceBusiness

IncubationBusiness

E-Commerce Business had quarterly record high net sales and operating incomeValue Cycle Business had quarterly record high net sales and operating income

E-Commerce Business overall proceeding as planned

No sales recorded in 2Q

Will make sales at the optimal timing

Earnings Forecast3


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FY2017 Progress by Business Segment


Value Cycle

Incubation

Adjustments

950

Progress

55.6％

Progress（Consolidated）

28.4％

E-Commerce

71.7％

Incubation

―％

Progressing as plannedKeeping annual forecast as is

681

Cross Border

(Unit: million JPY)

Progress

50.1％

GMV Sales Operating Profit

Forecast ForecastForecast

Progress ProgressProgress

Reference Materials4


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BEENOS continues to invest in emerging countries in Asia other than China that are

expected to grow in the futureB2C Online marketplace January 2013

Online marketplace for secondhand cars July 2014

E-commerce solution October 2014

Price comparison service April 2015

Mobile fashion marketplace December 2015

Online C2C real estate marketplace February 2016

In-home physical examination marketplace August 2016

Online B2B industrial goods marketplace December 2016

C2C Online marketplace April 2012

Online payment service January 2012

Online B2B industrial goods marketplace June 2016

Price comparison service May 2013

Online payment service June 2013

Online marketplace (Vietnam) December 2014

Online payment service (the Philippines) January 2015

Online remittance service (the Philippines) July 2014

Mobile money (African countries) January 2014

Fashion marketplace (Thailand) August 2016

Incubation Business Overview

China

India

Indonesia

Other

Markets that

follow China

(NEXT CHINA) are

the main targets

Investment Date


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List of Main Investments (in order of investment ratio)

Great Britain

US

Indonesia The Philippines

Turkey The Philippines

VietnamMultiple

African CountriesIndia

TurkeyIndia

India

Japan

Japan

Emerging Countries US, Japan, etc.

10％ <

5～10％

1～5％

< 1％

Japan

as of 31 March 2017

Thailand


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Prominent Links

BEENOS Corporate Site＞News＞Media Coverage of Investmentshttps://beenos.com/en/news-center/mediacoverage/

BEENOS Corporate Site

Please refer to the following links for further information

ＫＰI’s

IR Information for Defactostandard

BEENOS Corporate Site＞Company Portfoliohttps://beenos.com/en/company-portfolio/company/

Defactostandard＞IR Information (JAPANESE ONLY)http://www.defactostandard.co.jp/ir/

BEENOS Corporate Site＞Investor Relationshttps://beenos.com/en/investors/

Company Portfolio

Media Coverage of Investments


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tenso

ショップエアライン世界最大のオークションサイトeBayとの提携により、世界中の商品を日本にいながら購入できる「セカイモン」を運営。

デファクトスタンダード

モノセンス

ネットプライス

BEENOS Asia

BEENOS Partners

オープンネットワークラボ

BEENOS Plaza

Tokopedia インドネシアにおけるオンラインマーケットプレイス事業。 Akakce トルコにおける価格比較サービス事業。

Midtrans インドネシアにおけるオンライン決済サービス事業。 Iyzi Payments トルコにおけるオンライン決済サービス事業。

ShopClues インドにおけるオンラインマーケットプレイス事業。 Ayannah フィリピンにおけるオンライン送金サービス事業。

Citrus Pay インドにおけるオンライン決済サービス事業。 Nearex アフリカ諸国におけるモバイルマネー事業。

KartRocket インドにおけるオンラインストアソリューション。 Sendo ベトナムにおけるオンラインマーケットプレイス事業。

Buyhatke インドにおける価格比較サービス事業。 Paynamics フィリピンにおけるオンライン決済プラットフォーム事業。

Droom インドにおける中古車売買オンラインマーケットプレイス事業。 Duriana マレーシア・フィリピンにおけるスマートフォンフリマアプリ事業。

海外居住者向けに、日本の商品を海外発送代行するサービスを展開。現段階では、日本語・英語・中国語・韓国語に対応。日本語が読めないユーザー向けに代理購入サービス「Buyee」も展開。

連結子会社

持分法適用会社

主な海外の出資先

ブランド、時計、アパレル、アクセサリーなどを、お客様からネットを通じて買取り、メンテナンス後、ネットオークション等のチャネルを通じてセカンダリー販売。CtoBtoCモデル。

タレントのライセンスを用いた「商品企画」「商品プロモーション」「販路・流通の拡大」をサポートするサービスを提供。アーティストグッズの販売サイトも展開。

お客様・パートナーと「いいことおしえあう」ネットショッピングサイト「ネットプライス」を運営。

新興国市場への投資及び統括の拠点とするシンガポール現地法人。

米国のスタートアップ企業に対する投資事業を展開。

世界進出を視野に入れグローバルに活躍することを目標にインターネットを利用したビジネスでの起業を志すエンジニアや起業家を育成・支援。

インドネシアのスタートアップ企業に投資を行う現地法人。インドネシアで間接資材マーケットプレス事業を展開する「Ralali」などに出資。

Group Companies Profile

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Asia

Partners

Plaza

Online marketplace business in Indonesia

Online payment service business in Indonesia

ShopClues Online marketplace business In India

KartRocket E-commerce store solution in India

Ayannah Online remittance service in the Philippines

Nearex Mobile money service in African countries Sendo Online market place business in Vietnam

Paynamics Online payment service in the Philippines

Open Network Lab, Inc. Startup Accelerator program for startups intending to expand their business in the world

Investment in startup companies in USA

Overseas forwarding service for people living outside of Japan. With website in 4 languages (Japanese, English, Chinese and Korean), Tenso.com also runs another proxy purchasing service “Buyee” for customers who cannot read Japanese.

ShopAirlines, Ltd.

Defactostandard, Ltd.

Shop Airlines runs “Sekaimon” which enables Japanese customers to buy items around the world smoothly by tying up with the largest auction website “eBay”

Defactostandard runs an online consignment store, “Brandear”. Brandear purchases items from customer via internet and sell the items at internet auction sites after maintenance. (C to B to C business model)

monosense, Ltd. Monosense provides services creating successful tie-up products with various supports such as product planning and merchandise promotion for extending the market. Also runs various official artist's online shops.

netprice, Ltd Netprice runs internet shopping websites “netprice.” The service is based on customer reviews with the concept “telling a good thing each other”.

Investment in emerging countries. A Singapore based subsidiary.

Consolidated Subsidiaries

Affiliated Companies

Overseas Investments

Buyhatke Price comparison service in India

Droom Online market place for second hand cars

Investment in startup companies in Indonesia

voonik

NoBroker Online C2C real estate marketplace

tenso, inc.

Healthians In-home physical examination marketplace

Akakce Price comparison service in Turkey

Iyzi Payments Online payment service in Turkey

Mobile fashion marketplace

Ralali Online B2B industrial goods marketplace

Documents

PowerPoint プレゼンテーション - BEENOS€¦ · Compatible EC Sites a browsing tool where users can directly place the items they are searching for ... Vostok Emerging Finance,